The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1887-06-01
CHARTER
OF THE
RAPIDES COMPRESS COMPLY

RAPIDEs COMPRESS COMPLY
STATE OF LOUISIANA,
PARISH OF R.ApIpEs.
DE ITKNOWN THAT ON THIS THE
IL eighteenth day of April, Ammo Domi-
nj eighteen hundred and eighty-scven. be-
tore me, George o. Watts, Clerk and ex-
0fficio Notary Public, in and for the Par
lsh and State aforesaid, duly commissions
Ell aud qualified according to law, and in
the presence Of the undersigned compe-
tent witnesses, personally came and APP
peared Julius Levin, George w. Bolton.
Robert w. Bringhurst, Albert Pettengill,
Noble l.. McGinnis and Louis v. Marye,
residents OF this Parish and State, who
severaily and jointly declared that avail
ing themselves Of the provisions Of the
laws OF the State of Louisiana relative to
the organization of corporations, they
have formed and do by these presents
form and organize themselves into a cor
poration and body polite in law for the
purposes and under the following stipula-
tions, agreements and articles to-wit:-
ARTICLE /. The name and title Of this
corporation shall be "The Rapidcs Com
press Company" and by that name it
shall have succession and corporate eNis-
tence for and during the term of ninety
nine years from date hereof, unless sooner
dissolved, in the manner hereinafter men
toned. The legal domicil Of this corpora
ton shall be the City of Alexandria, in
the Parish of Rapides, State of Louisiana.
1t shall have power and authority to pur-
chase and convey both real and personal
mr. vi oh II hn,
such as may be agreed upon by the Board
of Directors.
ART. 2. The objects and purposes of this
corporation are hereby declared to be the
COMPRISING of cotton for domestic and
foreign shipment, and the weighing and
handling of cotton.
ART. 3. The capital stock Of this corpo-
ration is hereby fixed at thirty thousand
dollars, to be divided into shares of TWEEN
ty-five dollars each, ten per cent OF which
shall be paid at the time the subscription
is made, and the balance to be paid in in
sediments of ten per cent at such times as
the Board or Directors shall determine =
provided. however, that thirty days no.
tice be published by one insertion in one
OF the city papers prior to the day of pay
hent; and should any stakeholder fail to
pay any iustallment as the same may be
called for, the Board of Directors shall
have the right to declare his stock, to-
gether with all payments made thereon,
forfeited to and for the benefit of this cor
poration. The stock Of this corporation
may be increased to fifty thousand dollars
by a majority vote of the Stockholders,
and this corporation may begin opera
tons when fifteen thousand dollars Shall
have been subscribed.
Art. d. The corporate powers of this
corporation shall be vested in /, Board Of
six Directors, composed of the >stockhol-
ders OF this corporation to be elected all
unally, four of whom shall form quo
rum, and their acts shall be valid corpo-
rate acts, aud no stakeholder shall be-
come a Director unless he holds in his owl
right four shares OF the capital stock
The first Board of Directors under this
charter shall be:-Julius Levin, George
w. Bolton, Robert w. Bringhurst, Albert
Pettengill, Noble L. McGinnis aud Louis
V. Marye, and they shall elect from
among their number q President, and a
Vice President to act in the absence of the
President, and shall appoint such other
officers and employees as they may deem
proper to serve during their pleasure
The aforesaid Board shall continue to act
until the first annual election of Directors,
which shall take place OH the first Mon
day in May, 1883. The present Board Of
Directors shall at that time give notice in
one of the City papers of said election by
two publications, and at the said election
of Directors each aud every share of stock
shall be entitled to one vote, and every
stakeholder shall be entitled to vote in
person or by proxy, and all elections pro-
vidcd for by this charter shall be by bal
lot. This said Board of Directors shall
make such bylaws and rules and regula-
tons as they may think proper, and in
the event OF amy vacancy in the said
Board from death or otherwise, the Dlrec-
tors shall elect one of the stockholders to
fill the vacancy.
ART. 5. The President of this corpora
ton shall be the proper officer upon whom
citation shall he served, or in his absence,
upon the Vice-President.
ART. 6. This corporation shall have the
power and authority to contract, sue and
be sued under its corporate name, and to
mortgage and hypothecate under its cor
porate name property both real and per-
sonal, and shall have and enjoy all the
privileges incident to corporations of its
nature in this State.
ART. z. No stakeholder shall be held
liable for the faults, obligations or con-
tracts of this corporation for any greater
than the unpaid balance due to
the corporation on his stock.
ART. 8. This corporation may be dis
solved by two-thirds vote of its stock
holders as represented by the capital
stock, and it shall than be liquidated by
three commissioners to be chosen from
the said stockholders at a special election
for that purpose, and they shall hold Of
fee until the affairs of said corporation
shall he liquidatcd.
JULIUS LEVIN,
N. L. MCGINNIS,
ALBERT PETTENGILL,
Il. w. BRINGHURST,
l.. V. MARYE,
G. w. BOLTON.
: p + 1' nS..ar, Witnesses.
\~~) Thus done, read and signed
: l.. S. before me this 18th day of April,
t~~> 1887, in the presence of the two
subscribing witnesses
GEORGE 0. WATTS,
Clerk 18th Judicial District Court, Rap
ides Parish, La.
May 5, 1887-30d.